I accidentally stumbled over the answer when I was dissecting a dead floppy drive. Here's what I found.
Step 1: Opening the Drive
Before you open it, you'll usually need to remove the front panel.
After the front panel is off, you need to remove the screws, then open it carefully not to bend the metal at the clips.
Step 2: Encrypting
You need to carefully remove each one from it's socket, and equally carefully plug each one into the other's socket.
Then, all that's left is closing it back up and plugging it in.
It will register standard floppy disks as unformatted, and once you format a disk with it, a regular drive will register that disk as unformatted.